Neometals lodges lithium battery recycling patents in U.S.

Neometals (ASX:NMT) has lodged three U.S. provisional patent applications associated with its technology to recover high‐value materials from spent lithium batteries.

The scoping studies completed to date confirm that the technology can economically recover high‐value cobalt (99.2% recovery), at potentially lowest quartile operating cost.

Neometals is constructing a 100 kilograms per day pilot plant in Canada to accelerate the commercialisation of the battery recycling technology. 

The pilot program is expected to be completed in the September quarter and test recoveries of cobalt, lithium, nickel and copper from nickel-manganese-cobalt cathode lithium batteries typically used in electric vehicles.

Chris Reed, managing director, commented: “The lodgement of these patent applications is consistent with Neometals’ intellectual property strategy to protect its competitive advantage once the commercial viability emerges.   

“We will continue our disciplined evaluation of the technology through piloting before undertaking an engineering cost study to satisfy the industry demand for a commercial, environmentally and ethically responsible, end‐of‐life solution for lithium batteries.”

Recovery plant scoping study

Neometals has co-developed a technology with its 50:50 Canadian joint venture partner to economically recover high-value cobalt and other metals.

Agreements have been executed to construct the pilot-scale hydrometallurgical plant at Neometals’ Montreal laboratory.

Details from the previously completed scoping study includes:

– Total capital cost: US$4.5 million;
– Life of plant: 10 years;
– Life of plant revenue: US$233 million;
– Average net operation cost: US$4.45 per pound cobalt or US$9,852 per tonne;
– Pre-tax cash flow: US$144 million;
– Pre-tax net present value: US$84 million; and
– Payback period: <1 year.

Story by ProactiveInvestors